Consumers Have Nothing To Fear But The Future

Consumers are looking into their crystal balls and they don't like what they see. Even though the present still looks bright, the future is looking darker.

July's Consumer Confidence Index (CCI) continued to decline in July as it has been since mid-2021 (down to 95.7), led by its falling expectations component (down to 65.3) (chart below).  The current conditions component edged down in July, but remains high (at 141.3).